South Korea Raids Bithumb in the middle of the alleged embezzlement of $ 2 million funds

Update March 20, 10:50 AM UTC: This article has been updated to add a WU Blockchain report in Bithumb listings, claiming that multiple cryptographic projects paid intermediary rates for their tokens to list.

South Korea prosecutors raided the exchange of Bithumb cryptography after suspicions that their former CEO embezzled funds to buy an apartment.

On March 20, the Office of Prosecutors of the Southern District of Seoul, as reported sought Bithumb offices in the country.

The investigation focused on accusations that the exchange of cryptography gave him a lease deposit of 3 billion Koreans (more than $ 2 million) to Kim Dae-Sik, his former CEO and member of the Board, who now works as an advisor to the company.

Prosecutors raised concerns about possible financial misconduct within the company, suspecting that Kim used some of the funds to buy a personal apartment.